Tue, Apr 28, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Other Voices: Demand for Change Post-Madoff - Due diligence in a changing economy

Friday, March 08, 2013

This article was provided by Zabrina T Barile and Wendy Toribio-Torres of HedgeOp Compliance, an IMS Group Company (now Cordium).

The Madoff Investment Securities scandal in 2008 prompted significant reforms to the rules and regulations that govern the investment management industry. One of those major reforms includes the Dodd–Frank Wall Street Reform and Consumer Protection Act signed into federal law by President Barack Obama on July 21, 2010. The goal is to increase transparency in the financial system and hold those accountable who do not abide. As the investment management industry continues to evolve and undergo substantial changes, it is clear that there is a need for money managers to build out robust effective infrastructures and conduct thorough due diligence on many levels including investment and risk management, investigative, operational and more.

A number of administrative proceedings, complaints and litigations recently filed have included allegations related to the investment adviser’s due diligence. Asserting proper due diligence could have prevented investments involving Ponzi schemes, insider trading or other serious frauds. Actions have focused on false and misleading statements in the investment adviser’s marketing materials or offering documents based on the level, scope or quality of due diligence. Others have also noted the absence of well-doc......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. U.S. does not want hedge funds to invest in offshore re-insurers for tax purposes[more]

    Komfie Manalo, Opalesque Asia: The U.S. Treasury Department on Thursday introduced a new rule aimed at limiting hedge funds’ ability to reduce their tax bills by investing in insurance companies in offshore tax havens. As a general rule, the U.S. tax laws does not allow hedge funds to use off

  2. Ruling: Hedge funds suing Argentina can have access to bond offering details[more]

    Komfie Manalo, Opalesque Asia: U.S. District Judge Thomas Griesa in Manhattan ruled yesterday that hedge funds are entitled to details of a recent bond offering by Buenos Aires, reports

  3. Fund managers express concern of overvaluation in both equity and bond markets[more]

    Komfie Manalo, Opalesque Asia: According to the BofA Merrill Lynch Fund Manager Survey, investors see growing overvaluations in both

  4. Update: Wall Street has strong feelings about Jon Corzine trying to make a comeback[more]

    From Businessinsider.com.au: Former New Jersey Governor Jon Corzine is thinking about starting his own hedge fund, according to the Wall Street Journal, and because of the way his last firm imploded, Wall Street has strong feelings about that. “Truth is the larger seeders would never give him money

  5. Opalesque Exclusive: Cybersecurity and hedge funds - A manager’s experience, Part Four[more]

    Benedicte Gravrand, Opalesque Geneva: Ruane, Cunniff and Goldfarb, Inc. used to have their own IT infrastructure. Todd Ruoff, Executive Vice President in charge of trading, operations and technology, was responsible for its maintenance. Then he started looking at outsourced providers a couple of

 

banner